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By Victor MUJIDU
The adoption of e-mobility in the country has emerged as a game changer. It is a catalyst in producing carbon credit as it replaces fossil fuel-based vehicles with electricity-driven mobility solutions, sourcing energy from renewable projects, or using less-intensive carbon fuels.
Kenya has gained momentum in green energy, making a significant increase in the use of electric vehicles (EVs) an urgent answer to achieving its net-zero goal, among other options available.
The rise of e-mobility is set to reduce reliance on fossil fuels, mitigate urban air pollution, and enhance public health. Carbon revenues can subsidize electric vehicle technology, promoting its adoption while leveraging more climate finance through public-private partnerships.
By offsetting emissions through carbon credits, businesses can demonstrate their commitment to reducing their carbon footprint and invest in e-mobility initiatives. This may include fleet electrification, employee incentive programs for EV adoption, or collaborations with charging infrastructure providers.
“I want us to work together to make this a reality and actualize the immobility space that will bring down the cost of doing business and help us manage the climate challenges, but more importantly, address the challenges of really not having to import fossil fuels into a country that really damages the environment, said Davis Chirchir, the Cabinet secretary for Energy and Petroleum.
To incentivize and promote a comprehensive target for lowering carbon emissions, Kenya is endowed with abundant renewable energy, making it a premier green industrial hub, attracting international ventures, and fostering the adoption of carbon management technologies.
The steady move by the country towards adopting e-mobility is revealed by the fact that the replacement of gasoline-powered vehicles with electric ones has led to a significant reduction in CO2 emissions every year.
However, the insights reveal that the power supply in the country is unmatched by consumption since the supply is relatively lower compared to the demand. With the adoption of EVs, more power is required for standardization.
“We have to work quickly to give you guys power for this immobility because, like I’ve said, instead of generating 151–160 megawatts every year, we now need to put on the grid an additional 150 megawatts on top of what we will actually supply to meet demand and when to do it at the best price,” he added.
Kenya has been active in the carbon markets space for over two decades and is a leader in the continent, with around 23 per of the market share of voluntary carbon credits issued.
Carbon markets are prioritized as a pivotal component of Kenya’s climate-positive growth, and carbon credits are envisioned as the county’s next major export.
Encouraging adoption of electric vehicles: The e-mobility sector will incentivize carbon credits by encouraging the adoption of electric vehicles. Companies and individuals that use electric vehicles will earn carbon credits, which can be traded in carbon markets or used to offset their carbon footprint.
Promoting sustainable transportation methods: The e-mobility sector will also promote sustainable transportation methods, such as car-sharing programs and public transportation systems that use electric vehicles. These initiatives will help reduce carbon emissions and earn carbon credits for stakeholders involved in the e-mobility sector.
Investing in renewable energy sources: Another way the e-mobility sector will incentivize carbon credits is by investing in renewable energy sources to power electric vehicles. By using clean energy sources, the sector can earn additional carbon credits and further reduce its environmental impact.
Implementing green infrastructure: The e-mobility sector can also earn carbon credits by implementing green infrastructure, such as electric vehicle charging stations powered by solar panels or wind turbines.
These initiatives will help reduce carbon emissions and earn carbon credits for the sector.
Overall, the e-mobility sector has the potential to significantly incentivize carbon credits through its promotion of electric vehicles, sustainable transportation methods, investment in renewable energy sources, and implementation of green infrastructure.
By earning carbon credits, the sector can further incentivize the transition to a low-carbon economy and help combat climate change.
Steven Umidha is a data and financial journalist with over 15 years of work experience in journalism and communication.
He specialises in finance and economics reporting as well as on the causes, impacts, and solutions of global warming, conservation, pollution and sustainability, often blending scientific literacy with journalist ethics, while involving policy analysis and multimedia storytelling across various platforms in highlighting issues from biodiversity loss to ecological justice.
He is the founder of Financial Fortune Media, and a Co-founder of One Planet Agency (OPA). He has previously worked with the Standard Media Group, Mediamax Networks LTD, bird story agency, Business Journal Africa, and Financial Post among other outlets.
He can be reached on: Email: info@financialfortunemedia.com
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Last Updated on April 26, 2024 by Steve UMIDHA